• New Product Summary for Quote Vendors - Hot Rolled Steel Update

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      • #
      • Q2008-214
      • Notice Date
      • 16 October 2008
      • Effective Date
      • 20 October 2008
    • Date: October 16, 2008


      New Product Summary for Quote Vendors – Update #1

      Listing Date                 

      October 20, 2008

      Contract Name

      Hot Rolled Steel


      U.S. Midwest Domestic Hot-Rolled Coil Steel Futures

      Instrument Type

      Futures, Calendar Spreads and Strips

      Ticker Symbol(s)

      Globex: HRC Clearing Symbol: HR

      Trading Venue

      CME Globex® platform, NYMEX ClearPort® Clearing (CPC)

      Contract Size

      20 short ton (US Tons)

      Trading Hours

      Sundays through Thursdays from 5:00 p.m. Central Time (CT) to 4:15 p.m. CT next day

      Valid Contract Months

      18 consecutive monthly contracts

      Initial Contract Months

      Dec. 2008

      Minimum Price Intervals and Value Per Tick

      Trading tick of $5.00 per ton = $100 per contract for outrights, calendar spreads, and strips.

      Settlement tick of $0.50 per ton

      Termination of Trading

      The Business day before the 4th Wednesday of the contract month at 12:15 p.m. CT.

      Final Settlement Price

      Cash settled to an index which reflects an assessment of the prevailing market prices for U.S. Midwest Domestic Hot-Rolled Coil Steel.  This index is developed by CRU Indices Ltd., a subsidiary of CRU International Ltd.

      Exercise Style


      Exercise Price Listings and Intervals


      Price Conventions

      Futures Trade Price

      ITC 2.1 Ticker Testing Date(s)/Time(s)

      Ticker testing will be held on Friday, October 17 at approximately 5:00 p.m. DST.

      Actual Price

      $1005.00 ( Trade Price)

      $1005.50 ( Settlement Price)

      ITC Transmission Format


      RLC Testing in CME Certification Environment

      These products are currently available for quote vendor testing in the new release environment.

      ITC Fractional Indicator


      RLC Format


      Market Data Platform Channel Information

      Market data in ITC 2.1 format will be transmitted via MDP Channel 40; RLC format data will be transmitted via MDP Channel 32.

      Preferred Display